EBRD to boost renewable energy investments in Türkiye

The European Bank for Reconstruction and Development (EBRD) is providing a loan of $110 million to Türkiye's Enerjisa Enerji Üretim to support the expansion of the company's wind power portfolio.

Enerjisa Üretim's projects will prevent the release of 52,000 tons of CO2 emissions a year from the country's power system, the bank said in a statement.

"They are also an opportunity to promote employment for young people, with Enerjisa Üretim working in partnership with local institutes to help young people gain market-relevant skills in the sustainable energy sector."

Enerjisa Üretim is one of the largest independent power producers in Türkiye, with 3.7 GW of installed capacity.

"We must utilize Türkiye's potential in renewable energy to decarbonize the country's economy and provide momentum for its green ambitions," said Nandita Parshad, EBRD's managing director of sustainable infrastructure.

"The bank's engagement with Enerjisa Üretim started more than a decade ago through the financing of Bares Windfarm, which was the largest wind power plant in Türkiye at the time. We are pleased to grow our partnership further with this financing to support the company's ambitions in renewable energy," Parshad added.

With this loan from the EBRD, they are one step closer to accomplishing their goals, Enerjisa Üretim CFO Mert Yaycıoğlu said.

"With these projects, we focus not only on green energy generation but also on aspects that can provide opportunities for women and youth," he said.

To date, the EBRD has invested more than 17 billion euros in various sectors of the Turkish economy, largely in the private sector.